Introduction to OM
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Operations management is the business function responsible for planning, coordinating, and controlling resources needed to produce products and services. It transforms inputs like people, materials, and money into outputs of goods and services. The goal is to add value at each stage and provide an efficient transformation process at the lowest possible cost. Both manufacturing and service organizations have operations management functions that deal with issues like quality, demand forecasting, capacity, layout, staffing, and customers.
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This document provides an overview of production and operations management. It discusses key concepts like the objectives of production management being producing quality products at the right quantity, time, and cost. It also compares manufacturing and services, noting differences in things like customer contact, uniformity of inputs/outputs, and ability to store products. The scope of production management is outlined as including activities like facility location, plant layout, product/process design, production planning/control, and quality control.
Production and operations management
The document discusses key concepts in production and operations management. It defines operations management as the conversion of inputs into outputs using resources to meet customer needs while achieving organizational goals. Production management is concerned with manufacturing goods through various transformation processes involving inputs like materials, labor, and machines. The functions of production management include selecting materials and methods, scheduling, routing, dispatching, and evaluating production performance.
Agile intro module 4
The document provides an overview of Agile/Scrum planning and estimating. It includes an agenda that lists topics like an overview of planning & estimating, case release plan, and iteration plan. It also includes the Agile Manifesto which values individuals and interactions, working software, customer collaboration, and responding to change over processes, tools, contracts, and plans. Finally, it outlines the 12 principles of Agile, which focus on satisfying customers, sustainable development, continuous improvement, simplicity, self-organizing teams, reflection and adjustment.
Operation Management Chapter one silde presentations
Operations management (OM) concerns the production and delivery of goods and services. It involves managing the resources and processes that transform inputs like materials, labor, and equipment into outputs like products and services. The key objectives of OM include efficiency, quality, productivity and minimizing costs. Operations managers make both long-term strategic decisions around issues like facilities, capacity and technology as well as short-term operational decisions regarding production scheduling, inventory management and quality assurance. Productivity measurement compares the output of goods and services to the inputs used in their production. Improving factors like methods, technology and management can increase productivity over time.
Operation management
The document provides an introductory overview of operations management. It discusses four key aspects: 1) the purpose and components of operations, 2) key tasks managers must manage, 3) types of operations systems, and 4) tools to diagnose and solve problems. It describes operations using an input-transformation-output model and notes operations occur in many settings beyond factories. The document also outlines important customer needs, the roles of effectiveness and efficiency, different process types, analysis tools, and recent developments in quality management and flexibility.
5 Employee Relations Metrics you Should be Tracking & Why
If tracked correctly, ER metrics can help determine the root cause of workforce trends in your organization. In this webinar, human capital strategy consultant and 20-year HR veteran Cathy Missildine-Martin will reveal five critical ER metrics you should be tracking and why.
Join us to learn:
* Why ER metrics are just as important to HR analytics as performance metrics
* How to use ER metrics to drive corporate policy change
* What ER metrics you should be tracking and what they reveal
* How to use technology to track, measure and report on ER metrics
This must-attend webinar will help ensure that you’re including the metrics necessary to paint a full picture of what’s going on in your organization’s workforce and have the insight you need to build an effective human capital strategy.
Integrating bpi and innovation
This document discusses integrating process improvement and transformational innovation. [1] It notes that organizations face challenges innovating due to tight budgets but need flexibility in solutions. [2] Innovations can impact internal processes, products/services, or business models/markets differently. [3] Any innovation diffuses through communication over time within a social system. Organizations must transform themselves to appear reliable to mainstream markets and innovate internally before pursuing new products or markets. The document provides recommendations for innovating on a tight budget like focusing on internal processes or leveraging university speakers.
IT Innovation in the Federal Government
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10a_req
Value engineering began at GE during WWII due to shortages and looked for acceptable substitutes, often reducing costs and improving products. It became a systematic process called value analysis. Value engineering is a methodology that focuses on a product's function to improve value without sacrificing quality by assembling a cross-functional team. It relies on team building, communication, and efficient decision making. Value engineering follows a multi-stage job plan including information gathering, alternative generation, evaluation, and presentation to determine the best alternative. Benefits include lowering costs, improving efficiency and competitiveness.
PM Podcast 186 - Agile Manifesto for Project Managers
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Entrepreneurship
1. Entrepreneurship involves starting and managing a business while taking on the associated risks. It contributes to economic development by creating products/services, jobs, taxes, and demand for suppliers.
2. An entrepreneur performs functions like providing capital, organizing production, deciding output levels, and bearing risk. Innovation in entrepreneurship can include new products, processes, materials, or organizational improvements.
3. A new venture transitions through pre-startup, startup, early growth, and late growth stages to become a stable long-term enterprise, developing management and financing along the way.
PHILOSOPHIES OF TMQ
This document discusses several influential leaders in the quality revolution:
- W. Edwards Deming focused on continual quality improvement through reducing uncertainty and variability, driven by top management leadership. His 14 Points emphasize statistical process control and eliminating fear in the workplace.
- Joseph Juran proposed a quality trilogy of quality planning, improvement, and control. He defined quality simply as "fitness for use."
- Philip Crosby advocated that quality is free through preventing defects and emphasized conformance to requirements and zero defects.
- Armand Feigenbaum promoted a three step approach to quality involving quality leadership, modern technology, and organizational commitment through training.
Finding Lean in Agile by Adam Parker
The Washington DC Scrum User Group (DCSUG) welcomed Adam Parker on June 19, 2017 to present on "Finding Lean in Agile: What They Can Learn From Each Other"
Abstract: Explore the connections between Lean and Agile. What is shared? What's similar? What can each learn from the other? Discuss why highly performing teams from both philosophies demonstrate similar traits; including:
• Delivering value to the customer
• Creating and maintaining a stable, people-first environment
• Visualizing the work (Kanban being one example)
• Improving continuously
Video:
https://www.youtube.com/watch?v=TCyVyk0npFM
DCSUG - Finding Lean in Agile
Adam Parker's 6/19 presentation at DCSUG, "Finding Lean in Agile - What They Can Learn from Each Other"
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The document discusses the role of a Project Management Office (PMO) in managing relationships with vendors and contractors. The PMO identifies qualified vendors, develops guidance for managing vendor contracts and performance, and provides oversight to maximize vendor value and optimize their use on projects. Specifically, the PMO establishes processes to acquire, contract with, and oversee vendors throughout a project to help ensure projects meet their objectives.
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The document discusses key concepts in negotiation for supply management professionals. It covers objectives of negotiation, when to negotiate, supply management's role in negotiation, preparing for negotiation, and techniques used in negotiation. The preparation process involves establishing cost and non-cost objectives, identifying the desired relationship type, and conducting mock negotiations. Effective techniques include focusing on interests, inventing options for mutual gain, and separating people from problems. Negotiation should be well documented for future learning.
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The document discusses procurement processes for acquiring goods and services from outside sources. It covers:
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2) The key procurement management processes of planning, solicitation, source selection, contract administration, and closeout.
3) Factors to consider in procurement planning like what, when, and how much to procure as well as contract types involving fixed price, cost reimbursement, and unit prices.
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The document discusses supply chain management concepts including the flow of goods and information through the supply chain, supply chain integration, distribution, transportation, and global supply chains. It provides examples of supply chain processes for various industries and discusses how information technology enables supply chain management. Key performance indicators for measuring supply chain performance are also summarized.
Developing Performance Based Work Statements
The document discusses performance-based contracting and the importance of a clear Statement of Work (SOW). It provides guidance on developing an effective SOW in 9 steps: 1) establishing a scope statement, 2) listing tasks, 3) grouping tasks, 4) organizing tasks sequentially, 5) identifying inputs, 6) identifying outputs, 7) identifying timelines, 8) developing performance standards, and 9) determining monitoring methods. The SOW forms the basis for proposals, evaluations, and contractor performance assessments in performance-based contracts.
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Krause Corporation must decide whether to manufacture 6,500 feet of HVAC piping in-house or purchase pre-fabricated piping from a supplier for a new laboratory building. Manufacturing the piping would require welding multiple 8-foot sections together to achieve the desired 20-foot lengths, increasing time and costs. Purchasing piping at $18.10 per linear foot and in 20-foot sections could reduce installation time and risks of leaks, but may have a higher overall cost than manufacturing. A thorough cost analysis is needed to determine the most cost-effective option while ensuring leak-proof piping for toxic laboratory exhaust.
Value chain thru general electric
Thomas Edison opened a laboratory in 1876 in New Jersey where he invented the light bulb. In the 1890s, several of Edison's business interests were consolidated to form the Edison General Electric Company. In 1892, Edison's company merged with Thomson Houston Electric Company to form General Electric Company. GE is now a global conglomerate operating in over 100 countries with over 300,000 employees and revenues of over $150 billion in 2019. GE focuses on industries like aviation, healthcare, renewable energy, and financial services.
Inventory & Inflation
This document discusses inventory management for food and beverage operations. It covers topics like inventory classification systems, calculating inventory turnover rates, and maintaining product quality during storage. Procedures for issuing controls are also addressed, with the objectives being to limit storage access, match items removed to production needs, and track quantities and costs removed from storage.
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The document discusses asymmetric information in markets and how it can lead to inefficient outcomes. It provides examples of "lemons markets" where buyers cannot distinguish high-quality from low-quality goods. This can cause high-quality goods to be driven from the market if sellers cannot signal quality. The document also discusses how limited price information for consumers can give firms market power to charge above competitive prices, similar to a tourist trap model. Overall it analyzes how asymmetric information between buyers and sellers can disrupt efficient market outcomes.
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This document provides best practices for leading organizational change based on the experiences of change management experts. It discusses that change is multi-dimensional and involves not just new processes but impacts people. It also notes that change can be perceived positively or negatively. The document then covers why people resist change and common reasons for resistance. It emphasizes that the response to change is highly individual. Finally, it outlines over 20 best practices for leading successful change initiatives, such as developing a compelling vision, understanding resistance, communicating change effectively, and celebrating short-term wins.
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Operational margin reflects how effectively a business runs, with higher margins indicating a more scalable business that is more attractive to acquirers. Potential buyers will compare a business's operating margin to competitors, with lower margins signifying a business that is less scalable or requires more investment. The document recommends optimizing operational efficiency through investing in people, processes, and technology, then measuring the impact on key performance indicators like customer support calls and acquisition costs to increase margins and exit desirability.
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Productivity is a measure of efficiency and is calculated by dividing outputs by inputs. The US economic system increases productivity annually by about 2.5% through improvements to capital (38%), labor (10%), and management (52%). Starbucks improved productivity by changing processes like removing signature requirements on small credit card purchases and changing ice scoop sizes, saving time per transaction.
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Introduction to OM
- 1. Introduction to Operations Management Operations Management by Ken Hogan 1
- 2. Operations Management is: The business function responsible for planning, coordinating, and controlling the resources needed to produce products and services for a company 2
- 3. Operations Management is: A management function An organization’s core function In every organization whether Service or Manufacturing, profit or Not for profit 3
- 4. Typical Organization Chart 4
- 5. What is Role of OM? OM Transforms inputs to outputs Inputs are resources such as People, Material, and Money Outputs are goods and services 5
- 6. OM’s Transformation Process 6
- 7. OM’s Transformation Role To add value Increase product value at each stage Value added is the net increase between output product value and input material value Provide an efficient transformation Efficiency – means performing activities well for least possible cost 7
- 8. Goods & Services Manufacturing Services Tangible product Intangible product Product can be Product cannot be inventoried inventoried Low customer contact High customer contact Longer response time Short response time Capital intensive Labor intensive 8
- 9. On the other hand… Both use technology Both have quality, productivity, & response issues Both must forecast demand Both will have capacity, layout, and location issues Both have customers, suppliers, scheduling and staffing issues Manufacturing often provides services Services often provides tangible goods 9
Editor's Notes
- Reid & Sanders, Operations management, c Wiley 2010